Connecticut is investing $121 million to kickstart a regional economic effort to support quantum computing, a growing technological field that applies quantum mechanics to boost computing speed and ability.

Quantum Computing Initiative

The state’s Department of Economic and Community Development (DECD) has allocated $60 million to QuantumCT, a public-private partnership between DECD, the University of Connecticut, and Yale University. The remaining $60 million will be delivered if QuantumCT and its partners are successful in their campaign for a federal award from the National Science Foundation’s Regional Innovation Engines initiative.

Quantum computing has the potential to transform industries from pharmaceuticals to manufacturing and financial services. The federal government is interested in how the technology might improve cybersecurity and encryption, vital for national defense.

Local Impact

The investment is expected to create jobs in engineering, technology, and research, as well as business operations, management, marketing, and finance roles. One homegrown company, Quantum Circuits Inc., has already set an example, with its acquisition by D-Wave, a leading quantum business, for $550 million.

Connecticut leaders believe that the state’s investment in quantum computing will prepare its economy and workforce for disruptive innovations. The state’s quantum connections go back decades, with Yale boasting some of the field’s foundational developments and players.

Original reporting: The Connecticut Mirror — read the source article.